Which of the following cost classifications would be most useful for the managerial decision-making purposes such as planning and control? O Product costs versus period costs Expired costs versus unexpired costs O Variable costs versus fixed costs O Manufacturing costs versus non-manufacturing costs Which of the following descriptions about "normal job-order costing" is FALSE? O Overhead is applied based on the predetermined overhead rate multiplied by the actual level of activity performed on jobs. O A separate Work-In-Process account needs to be set and maintained for each job order O Manufacturing overhead is used as a temporary account to determine the amount of actual and applied overhead for each period and is closed at the end of every period. O It is necessary to estimate total overhead costs and activity level for each period at the beginning of the period, so a predetermined overhead rate can be established. Which of the following can NOT be regarded as the criticism about "actual costing" (i.e., using an actual overhead rate instead of a predetermined overhead rate)"? O It does not allow timely reporting or assignment of costs for specific jobs or products. O It does not have any overhead variance to be closed at the end of each period. O It may not provide stable overhead rates since the market and production conditions may change frequently across periods. Identical products may be assigned different amounts of overhead if they are produced in different periods in which the actual cost of overhead resources may be fluctuated